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Price

Authored by Laura Boeckman

Business

12th Grade

Used 5+ times

Price
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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the term "Price" refer to in the context of business vocabulary?

The total cost of making or purchasing a product.

The amount of money or value placed on anything purchased by the customers.

The total costs of operations that a company incurs to generate revenue.

The amount of goods consumers are willing and able to buy.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is meant by "Cost of Goods Sold"?

The amount of goods consumers are willing and able to buy.

The total cost of making or purchasing a product.

The amount of money or value placed on anything purchased by the customers.

The total costs of operations that a company incurs to generate revenue.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following best defines "Break Even Point"?

Where sales equal the costs and expenses of making a product.

Adding a flat amount to the cost of each item.

Adding a percentage cost to each item.

The total costs of operations that a company incurs to generate revenue.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is "Flat Markup" in pricing?

Adding a percentage cost to each item.

The total cost of making or purchasing a product.

Adding a flat amount to the cost of each item.

The amount of goods producers are willing to make and sell.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor is NOT listed as affecting pricing decisions?

Costs and Expenses

Supply and Demand

Consumer Perception

Product Quality

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Is the formula correct?

Yes

No

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a type of psychological pricing listed in the document?

Odd/even pricing

Price lining

Promotional pricing

Cost-plus pricing

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